Why Israeli PM Netanyahu told Biden, Israel has no choice but to launch ground operations

Geopolitical headlines from Israel:

  • Israeli PM Netanyahu told Pres. Biden that Israel has no choice but to launch a ground operation in Gaza
  • Israeli defense forces announced combat helicopters are currently striking targets in Lebanon
  • Israeli says no negotiations are underway after Reuters reported that possible Gaza prisoner swap deal talks
  • Hamas armed wing says fired rockets toward Jerusalem in response to bombings of civilian houses
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Needless to say the battle is going to continue for some time.….CONTINUE READING HERE

Meanwhile,

  • Crude oil prices are trading around $86.38 set up $3.68 on the day.

Looking at the daily chart below, the price of crude oil has moved back above the swing high from August 10 at $84.85. Last week, the price fell back below that level and also a swing area between $82.35 and $83.32 (see red number circles in the yellow area on the chart below).

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The news over the weekend gapped the price higher and above the aforementioned August high turning the bias back to the upside in the process. It would take a move back below $84.85 to take some of the bullishness back out of the technicals…..CONTINUE READING HERE